Global advertising network Publicis Groupe has posted an 18% rise in first half net profits, as revenues were pushed up by 59% following the acquisition of Bcom3 Group in September last year (see Publicis Confirms BCom3 Merger Details).
Publicis describes the first half figures as ‘excellent’ and is looking to build on this performance in the second half and into 2004. The group, which is the owner of Saatchi & Saatchi and ZenithOptimedia, saw new business wins totalling almost €1.9 billion; this revenue should be reflected in its Q4 figures.
Maurice Levy, chairman and CEO of Publicis, said: “Barring unforeseen circumstances, we should be able to achieve 15 per cent operating margin during the second half of 2003. Our objectives will then be to consolidate this level for the entire year of 2004. I have total confidence in the ability of our teams to get there.”
During the period Publicis exercised its option to buy a 25% stake in ZenithOptimedia from Cordiant Communications, following the latter’s takeover by WPP (see WPP Sells Zenith Stake To Publicis). It also acquired a minority interest in UK media agency Starcom Motive.
